Sweet Briar College placed on 1-year warning for finances

AMHERST COUNTY, Va. - Sweet Briar College has been placed on a one-year warning for its finances.

In a letter posted on the school's website, President Meredith Woo said the Southern Association of Colleges and Schools Commission on Colleges says Sweet Briar is not financially stable.

The warning is reflective of the college's financial state at the end of June 2017, before any charges were made to scale the size of staff and faculty to sustain the present number of students and scale of growth.

As 10 News has previously reported, the school was close to closing back in 2015.

A representative from Sweet Briar says the college has been on a trajectory for a strong future since the end of the 2017 fiscal year.

President Woo said Sweet Briar donors contributed more than $43 million from 2015 to 2017, which is the largest two-year total in the 116-year history of the college.